Paramount Resources (TSE:POU) Reaches New 12-Month High – Time to Buy?

Paramount Resources Ltd. (TSE:POU)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as C$30.40 and last traded at C$30.33, with a volume of 106321 shares traded. The stock had previously closed at C$29.77.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on POU shares. Jefferies Financial Group lowered their price objective on shares of Paramount Resources from C$29.00 to C$28.00 in a research note on Tuesday, January 20th. ATB Cormark Capital Markets raised their target price on Paramount Resources from C$28.00 to C$33.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 4th. National Bank Financial boosted their price target on Paramount Resources from C$32.00 to C$32.50 and gave the company a “sector perform” rating in a report on Wednesday, March 4th. Royal Bank Of Canada upped their price target on Paramount Resources from C$26.00 to C$30.00 and gave the company a “sector perform” rating in a research report on Wednesday, March 4th. Finally, Raymond James Financial increased their price objective on Paramount Resources from C$29.00 to C$31.00 and gave the stock an “outperform” rating in a report on Wednesday, March 4th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$31.22.

Paramount Resources Stock Performance

The company’s 50-day moving average price is C$26.40 and its 200 day moving average price is C$24.23. The stock has a market capitalization of C$4.33 billion, a PE ratio of 3.42, a PEG ratio of 0.14 and a beta of 0.14. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.68 and a current ratio of 3.77.

Paramount Resources (TSE:POU) last announced its quarterly earnings results on Tuesday, March 3rd. The company reported C($0.03) earnings per share (EPS) for the quarter. Paramount Resources had a net margin of 129.11% and a return on equity of 48.07%. The company had revenue of C$262.50 million for the quarter. On average, equities research analysts expect that Paramount Resources Ltd. will post 1.4075758 earnings per share for the current fiscal year.

Paramount Resources Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.05 per share. The ex-dividend date is Monday, March 16th. This represents a c) dividend on an annualized basis and a dividend yield of 2.0%. Paramount Resources’s dividend payout ratio is 6.83%.

About Paramount Resources

Paramount is an independent, publicly traded Canadian energy company that explores for and develops both conventional and unconventional petroleum and natural gas, including longer-term strategic exploration and pre-development plays. The Company’s principal properties are located in Alberta and British Columbia. Paramount’s class A common shares are listed on the Toronto Stock Exchange under the symbol “POU”.